Analysis of the Application of Information Obligations and Transparency in Consumer Protection of Crypto Asset Investment
DOI:
https://doi.org/10.56338/ijhess.v8i4.12029Keywords:
Information Disclosure, Transparency, Consumer Protection, Crypto Investment, Financial Services AuthorityAbstract
Crypto asset investment in Indonesia has expanded rapidly, increasing the importance of information disclosure and transparency. This study examines operators’ information obligations and blockchain’s potential contribution to transparency. The study employs normative legal research with statutory and conceptual approaches. Primary materials include the Consumer Protection Law, the P2SK Law, Government Regulation Number 49 of 2024, relevant Financial Services Authority (OJK) regulations, and related legal instruments. Materials were collected through library research and analyzed qualitatively through legal interpretation and systematic comparison. The analysis identifies a layered framework combining consumer rights, financial-sector supervision, electronic transaction rules, and sector-specific requirements. Key mechanisms include operator licensing, disclosure of asset characteristics and investment risks, safeguards for consumer funds, governance, risk management, and complaint-resolution channels. However, protection may be limited when consumers use unauthorized or cross-border platforms or cannot interpret complex disclosures. Blockchain, distributed ledgers, and smart contracts can improve transaction traceability and verifiability, but cannot independently establish product quality, legal compliance, or adequate risk disclosure. The study concludes that effective protection requires enforceable disclosure, coordinated supervision, accessible information, and remedies. It recommends that OJK consider cross-border regulatory cooperation, clear authorization requirements for foreign platforms serving Indonesian consumers, risk-based technology supervision, and standardized, understandable risk disclosures.
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